Tuesday, November 25, 2003

Congress Cuts SEC Funding

Here's a real smart move? Yea, let's continue giving corruption public financing instead.

The Big Picture

"'WASHINGTON -- House and Senate Republicans, negotiating an $821 billion-plus year-end spending package, have taken a decidedly pro-business slant to help pick up conservative support after Thanksgiving, when the leadership hopes to win final passage . . .

And amid the growing mutual-fund scandal, the Securities and Exchange Commission, which enjoys bipartisan support, will lose a third of the $96 million budget increase it expected until recently. The decision surprised Sen. Paul Sarbanes (D., Md.), who sponsored corporate-reform legislation in the last Congress that committed the body to a steady increase in funds for the SEC. 'Once you push back, you lose the momentum,' Mr. Sarbanes said.'" ...

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